During 2024, 2,333 companies closed and 107,443 jobs linked to the sector were lost.
The Confederation of Industrial Trade Unions of the Argentine Republic (CSIRA) warned this Friday that The official cheap dollar policy and indiscriminate opening is “a lethal combo” for local industry. In this scenario, they expect that the economic situation of the sector will be aggravated in the next quarter.
“The combination between cheap dollar and the indiscriminate opening of imports promoted by the government is a lethal combo for the Argentine industry, which also He has not received any stimulus measure from the State that compensates for that situation“says the Csira in a report released last Friday.
The Csira meets 36 industrial guilds throughout the country. The report describing a “gloomy panorama” of the sector. Among other worrying data, they point out that the fall in industry production in 2024 was -9.4% compared to 2023. They also show that 107,443 jobs linked to the sector were lost.
Closure of companies and bass
Although from Csira recognizes that there was a slight improvement in the last quarter of 2024, They warn that it was uneven and that several branches are still in a recessive situation. Another fact that shows this fall is the amount of losses of companies. During the past year 2,333 companies closed. In particular, those linked to the manufacturing industry were affected, which were 1,130 closed.
The peers were also a bad sign of the current situation. 87.5% of industrial unions indicated that the agreements are not approved in a timely manner. To this is added an inflation index that is questioned. “With an updated basket (Engho, National Survey of Household Expenses 2017 – 2018), the estimate of accumulated inflation, since the beginning of the Milei government, would have reached 8 % more,” the report said.
With these negative data, 75% of the 36 industrial unions that make up the CSIRA believe that the situation will only get worse.
Source: Ambito
